Paragon plans IPO for battery systems maker Voltabox

Reuters Staff

2 Min Read

FRANKFURT, Sept 11 (Reuters) - Germany’s Paragon plans to float about 40 percent of its Voltabox battery systems unit on the Frankfurt stock exchange as early as this autumn to raise deleveopment funds for the business.

Voltabox is to issue 5 million new shares plus a greenshoe option of 825,000 shares, with a further 500,000 shares to come from Paragon’s holdings, Paragon and Voltabox said.

The companies did not say how much the initial public offering (IPO) is expected to raise.